Oops, we forgot to pay £882m worth of bills
It turns out that one in five of us missed an important bill payment last year, and one in 10 have received a court summons as a result. This cheering news comes from research commissioned by Moneysupermarket.com for their far-too-jauntily named ‘Bill Barometer’, which showed that we’ve missed a total of 15 million bill payments.
And when you examine our monthly outgoings compared to our piffling and paltry wages, you’ll see why we’re ‘accidentally’ losing that gas bill down the back of the sofa. The average household spends £1360 on essential bills like rent, mortgages and utilities.
So what are we neglecting to pay? Well, we’re most frequently failing to pay credit cards, loan repayments, and often childcare costs. And even more worryingly, one in five people say that their outgoings would only have to rise by £50 a month to make them completely unmanageable.
‘Many households are precariously juggling their bill payments, choosing which to pay and which to ignore.’ Says Claire Francis from Moneysupermarket. ‘It's a balancing act that can't continue long-term without significant implications. Given interest rates are likely to start rising next year, leading to increases in the cost of borrowing, it is a real concern that many people won't be able to cope.’
Excuse me, Mr Osborne - before the Bank of England puts up interest rates - please can we have some more?